RITE AID CORPORATION AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)For the Years Ended February 28, 2004, March 1, 2003 and March 2, 2002(In thousands, except per share amounts)During fiscal 2004 the Company repurchased the following securities:PrincipalAmount(Gain)/lossAmountPaidRepurchasedDebt Repurchased(865)(4,314)(1,981)(715)(1,895)1,888$(7,882)$ 36,853120,21613,1444,2197,97511,27537,848124,92615,2276.0% fixed rate senior notes due 20057.125% notes due 2007...6.875% senior debentures due 2013..5,00010,00010,0007.7% notes due 2027.....6.875% fixed rate senior notes due 202812.5% senior secured notes due 2006$193,682$203,001Total

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Asked Nov 17, 2019
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Note 10 reports that Rite Aid engaged in some open-market debt transactions during year ended February 28, 2004.
Prepare the journal entry required to record the repurchase of these notes.
RITE AID CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
For the Years Ended February 28, 2004, March 1, 2003 and March 2, 2002
(In thousands, except per share amounts)
During fiscal 2004 the Company repurchased the following securities:
Principal
Amount
(Gain)/
loss
Amount
Paid
Repurchased
Debt Repurchased
(865)
(4,314)
(1,981)
(715)
(1,895)
1,888
$(7,882)
$ 36,853
120,216
13,144
4,219
7,975
11,275
37,848
124,926
15,227
6.0% fixed rate senior notes due 2005
7.125% notes due 2007...
6.875% senior debentures due 2013..
5,000
10,000
10,000
7.7% notes due 2027.....
6.875% fixed rate senior notes due 2028
12.5% senior secured notes due 2006
$193,682
$203,001
Total
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RITE AID CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) For the Years Ended February 28, 2004, March 1, 2003 and March 2, 2002 (In thousands, except per share amounts) During fiscal 2004 the Company repurchased the following securities: Principal Amount (Gain)/ loss Amount Paid Repurchased Debt Repurchased (865) (4,314) (1,981) (715) (1,895) 1,888 $(7,882) $ 36,853 120,216 13,144 4,219 7,975 11,275 37,848 124,926 15,227 6.0% fixed rate senior notes due 2005 7.125% notes due 2007... 6.875% senior debentures due 2013.. 5,000 10,000 10,000 7.7% notes due 2027..... 6.875% fixed rate senior notes due 2028 12.5% senior secured notes due 2006 $193,682 $203,001 Total

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Step 1

Prepare journal entry (1-...

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Debit Post S.no Credit(S) Description Ref (S) 6.0 fixed rate senior notes due 2005 Premium on redemption of bond 1 37,848 130 Loss on retirement of debt 865 Cash 36,853 (To record 6.0 fixed rate senior notes due 2005) 7.125%notes due 2007 2 124,926 Premium on redemption of bond 396 Loss on retirement of debt 4,314 Cash 120,216 (To record 7.125% notes due 2007) 6.875% senior debenture due 2013 3 15,227 Premium on redemption of bond 102 Loss on retirement of debt 1,981 Cash 13,144 (To record 6.875% senior debenture due 2013)

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